Abercrombie & Fitch Wave Analysis 7 December, 2020

• Abercrombie & Fitch reversed from support level 20.00

• Likely to rise to 23.55

Abercrombie & Fitch recently reversed up from the support area lying between the round support level 20.00, 50% Fibonacci correction of the upward impulse from October and the upper trendline of the daily up channel from August.

The upward reversal from this support area started the active short-term impulse wave 5 – which belongs to wave (C) from August.

Abercrombie & Fitch is expected to rise further toward the next resistance level 23.55 (top of the previous minor impulse wave 3).